Overview of TOP weekly news
Listing of Siemens Energy
Siemens AG listed Siemens Energy on the Frankfurt Stock Exchange on September 28. The launch was a merger of Siemens Gamesa Renewable Energy with its Gas and Power divisions. This strategic step aimed to reduce the risk of Siemens AG due to the growing demand for conventional energy equipment and the price pressure on wind turbines.
Wind turbine prices have fallen by 42% since the beginning of 2010, and according to the BloombergNEF wind turbine price index, turbine manufacturers expect them to fall by a further 9% by 2025.
In offshore wind power, Siemens Gamesa has been a world leader in supplying turbines with a total capacity of more than 13 GW for offshore projects over the next five years. In 2017, Siemens Wind Power merged with Gamesa Corp. and created Siemens Gamesa, which has since become the second-largest manufacturer of wind turbines in the world.
Fitbit’s and Google’s agreement are close
According to unverified sources, the EU is ready to approve Google’s $2.1 billion deal with Fitbit.
The agreement previously faced direct opposition from Margrethe Vestager, EU Commissioner for Competition. Regulators are now consulting with other stakeholders on the concessions offered by Google.
“We have worked with the European Commission on an updated approach to ensuring consumers’ expectations that Fitbit data will not be used for advertising. We will also formalize our long-standing commitment to support other wearable Android vendors and continue to allow Fitbit users to connect to third-party services through the API if they wish. The space for wearable accessories is very crowded and we believe that the combination of Google’s efforts and Fitbit’s hardware will increase competition in this sector, “said Google.
Performance of the Google’s shares (Source of the graph: Tradingview)
Will Tchibo beat Starbucks?
The company is based in Hamburg-Tchibo, in the following weeks its roasted and ground coffee in the US under the latest initiative of the CEO. Tchibo coffee is already sold throughout Europe and its CEO is now trying to attract American coffee lovers.
“There is a significant bonus that we think is due to the transition of consumers from cafes to food,” said Tchiba CEO Watson in an interview. “The companies that win the market are the largest and most premium.”
Linemayr wants to use his American experience and help Tchibo gain a foothold in the American market. He achieved success when he ran Lindt & Sprungli in the USA from 1999 to 2016.
“I learned that you have to forget what made you successful in Europe – you have to learn how to do business in America. We tried to understand the consumer and carefully built the brand – it was quite a ride,” said Linemayr.
Tesla begins to mine lithium
Tesla said it owns its rights to mine lithium in Nevada after abandoning a plan to buy the business, people familiar with the matter said. Tesla promised to reduce its battery costs by 50%, instead focusing on a plan to mine lithium in the state.
The plan is to reduce battery costs and deliver on the promise of delivering a $25,000 electric car to the market.
“Tesla’s move supports the importance of clay as a future source of lithium in the United States,” Cypress CEO Bill Willoughby said in an email statement, citing Tesla’s plan to extract lithium from clay.
Performance of the Tesla’s shares (Source of the graph: Tradingview)
Bernard Arnault-led LVMH sued Tiffany and its management, seeking a blessing from a judge to cancel a $16.6 billion deal by a luxury American jeweller.
LVMH claims that Tiffany’s decision to divide capital and marketing investments, take on additional debt and pay cash dividends despite the pandemic meant that it was a different business from the one they had agreed to buy.
“LVMH’s strange arguments are another obvious attempt to evade its contractual obligation to pay the agreed-upon price for Tiffany,” Tiffany Chairman Roger Farah said in a statement on Tuesday.
Performance of the LVMH’s shares (Source of the graph: Tradingview)
Watch this week:
Thursday, September 30, 2020
The United States will publish initial unemployment claims. A slight decrease in initial applications from 870 thousand to 850 thousand applications is expected.
Germany will publish the manufacturing PMI index for September. Analysts expect an unchanged value of 56.6 points.
Friday, October 02, 2020
The United States will publish the unemployment rate in September. Unemployment is expected to fall by 0.2% to 8.2%.
Source of the text: Investing, Zerohedge, Financial Times, Reuters, Tradingview